Joseph E. Stiglitz, Vol. 1 of 1

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Joseph E. Stiglitz

Author:	Hoff, Karla;	Collection Title:	Policy Research working paper ; no. WPS 4478
Country:	World;	Date Stored:	2008/01/15
Document Date:	2008/01/01	Document Type:	Policy Research Working Paper
Language:	English	Region:	The World Region
Report Number:	WPS4478	SubTopics:	Economic Theory & Research; Debt Markets; ; Labor Policies; Financial Intermediation
Volume No:	1 of 1

Summary: Joseph E. Stiglitz, 2001 Nobel Laureate in Economics, helped create the theory of markets with asymmetric information and was one of the founders of modern development economics. He played a leading role in an intellectual revolution that changed the characterization of a market economy. In the new paradigm, the price system only imperfectly solves the information problem of scarcity because of the many other information problems that arise in the economy: the selection over hidden characteristics, the provision of incentives for hidden behaviors and for innovation, and the coordination of choices over institutions.


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